Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price fell 9% during trading on Friday after an insider sold shares in the company. The company traded as low as $73.04 and last traded at $76.07. 51,131,002 shares were traded during trading, a decline of 26% from the average session volume of 68,759,451 shares. The stock had previously closed at $83.60.
Specifically, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Wall Street Analysts Forecast Growth
A number of analysts have commented on PLTR shares. Morgan Stanley upgraded Palantir Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Mizuho upped their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Finally, William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $75.19.
Get Our Latest Research Report on PLTR
Palantir Technologies Price Performance
The company has a market cap of $188.17 billion, a PE ratio of 417.37, a P/E/G ratio of 10.84 and a beta of 2.74. The company has a 50-day moving average price of $92.72 and a two-hundred day moving average price of $71.47.
Hedge Funds Weigh In On Palantir Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp grew its stake in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. FMR LLC raised its position in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.
About Palantir Technologies
(
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Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.
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